Private investment activity has picked up strongly at the beginning of 2017, while the increase in external demand is continuing. Hence we forecast GDP to grow by 2.3% this year. The strong upswing in public investment, not only this year but also in 2018 and 2019, will be facilitated by increasing inflow of EU funds. Rising household incomes will help private consumption to keep on growing steadily, thus GDP growth is expected to grow by 2.5% and 2.6%, respectively, in 2018 and 2019.

map Estonia
Main Economic Indicators201420152016201720182019
Population, 1000 persons131513151316...
GDP, real change in %
GDP per capita (EUR at PPP)209002170021700...
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average7.
Average gross monthly wages, EUR100510651146...
Consumer prices, % p.a.
Fiscal balance in % of GDP0.70.10.3...
Public debt in % of GDP10.710.09.4...
Current account in % of GDP0.
FDI inflow, EUR mn1308-661665...
Gross external debt in % of GDP96.494.390.4...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


Monthly Report No. 7-8/2017

Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Richard Grieveson, Doris Hanzl-Weiss, Peter Havlik, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2017
27 pages including 1 Table and 2 Figures



ESTONIA: Public investment and private consumption will drive growth

Sebastian Leitner
in: Cautious Upturn in CESEE: Haunted by the Spectre of Uncertainty
wiiw Forecast Report No. Spring 2017, March 2017 , pp. 69-71
Details and Buy